The Phaserl


Talking heads call for $30.00 oil – Terry Kindler

by Terry Kindler, The Daily Coin:

With the blow-dried bobble-heads and their guests over at CNBC calling for $30.00 – $35.00 per barrel oil, and others predicting $20.00, or even $10.00 oil, it’s high time for a more rational look at the price of oil.

The oil price, for the last decade or so, has been in a pattern where it alternates between periods where the overall trend is up, and others where it is down. Let’s see if you can spot the trend in the chart below.

1) Support levels formed by what is called a Pitchfan. What is a Pitchfan? It is a combination pitchfork and Gann Fan. The Pitchfan is a pretty amazing chart tool as you’ll see in a moment;

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